Showing 1 - 10 of 52
Abstract This paper proposes a new generalized method of moments (GMM) estimator for spatial panel models with spatial moving average errors combined with a spatially autoregressive dependent variable. Monte Carlo results are given suggesting that the GMM estimator is consistent. The estimator...
Persistent link: https://www.econbiz.de/10005495722
A short review of the theoretical and empirical evidence indicates that foreign direct investment (FDI) has the potential to increase the intensity of competition as well as to act as a channel for technology transfers. One would expect, all else equal, an increase in average firm performance...
Persistent link: https://www.econbiz.de/10005497928
We review the changes in modelling strategy and econometric methodology when estimating a firm-level investment equation on panel data during the past twenty years, in order to assess which of these changes result from new estimation methods and changes in the practice of panel data...
Persistent link: https://www.econbiz.de/10005408002
In random coefficients linear IV models, fixed effects averages of the random coefficients are biased in short panels due to the finite-sample bias of IV estimators. This paper introduces a new class of bias-corrected fixed effects estimators for panel data models where the response to the...
Persistent link: https://www.econbiz.de/10004972908
It is recognized that one of the goals of federal transfers is to provide the states with some financial leverage during recessions. Federal transfers in the United States comprise such components as retirement and disability payments for individuals, other direct payments for individuals or...
Persistent link: https://www.econbiz.de/10011135592
The objective of this article is to analyze the impact of capital structure on profitability. This impact can be explained by three essential theories: signaling theory, tax theory and the agency costs theory. From a sample of 9136 firms distributed on seven sectors taken over the period...
Persistent link: https://www.econbiz.de/10011107505
This article aims to expand existing empirical knowledge on the impact of debt level on profitability of companies. We analyze a sample of 568 unlisted French companies (Agro-food sector) spanning over a period of 1999 to 2006. We show, by using the generalized method of moments (GMM), that debt...
Persistent link: https://www.econbiz.de/10011108803
This article aims to expand existing empirical knowledge on the impact of debt level on profitability of companies. We analyze a sample of an unbalanced panel of 2325 unlisted French companies of trade sector spanning over a period of 1999 to 2006. By using the generalized method of moments...
Persistent link: https://www.econbiz.de/10011109437
Current study aims to provide new empirical evidence on the impact of debt on corporate profitability. This impact can be explained by three essential theories: signaling theory, tax theory and the agency cost theory. Using panel data sample of 2240 French non listed companies of service sector...
Persistent link: https://www.econbiz.de/10011110894
This paper proposes a new panel unit root test based on the generalized method of moments approach for panels with a small number of time periods and a large number of cross-section units, N. In the model that we consider the deterministic trend function is essentially unrestricted and the...
Persistent link: https://www.econbiz.de/10011259926